The Republic of Georgia will use the bitcoin network to validate property-related government transactions. The project will be carried out by Bitfury to register land titles via a private Blockchain and then to make those transactions verifiable using bitcoin Blockchain which is public.
Bitfury and Georgian National Agency of Public registry have signed a new Memorandum of Understanding to expand the service to purchases and sales of land titles, registration of new land titles, and demolition of property, mortgages and rentals as well as notary services.
Tea Tsulukiani, Georgia’s Minister of Justice, said in a statement, “We will be able to work with Blockchain technology from this summer [to] place real estate extracts in a totally safe and innovative system.”
